Finance

MNB

Hungarian Central Bank Holds Base Rate Steady at 6.5%

The Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 6.5% on Tuesday, reaffirming...

Trade

Economy Ministry Points to Factors Lifting Motor Fuel Prices

The Hungarian Ministry of National Economy said the Ukrainian threat to crude oil supply, along with U.S. sanctions, was lifting...

Finance

OECD Acknowledges Qualified Status of Hungarian Rules on Global Min Tax

The Organization for Economic Co-operation and Development (OECD) has acknowledged the qualified status of Hungarian rules on the global minimum...

Banking

EBRD Provides EU-backed Guarantee to OTP Bank Ukraine

The European Bank for Reconstruction and Development (EBRD) is providing an unfunded portfolio risk-sharing facility to OTP Bank Ukraine, a...

Trade

Hungary’s External Trade Records EUR 742 mln Surplus in November 2024

Hungary recorded a surplus of EUR 742 million in external trade in goods for November 2024, according to data published...

Banking

Gránit Bank Launches Fully Online Credit for Blue-collar Workers

Gránit Bank has introduced credit for blue-collar workers that can be applied for entirely online, with successful applicants receiving an...

Banking

Gránit Bank Shares Begin Trading on BSE After Record IPO

Gránit Bank shares started trading on the Budapest Stock Exchange (BSE) on Monday, following the largest initial public offering (IPO)...

Trade

Hungary’s External Trade Surplus at EUR 1 bln in October 2024

Hungary recorded an external trade surplus of approximately EUR 1 billion in October 2024, according to the latest data from...

MNB

MNB Fines Union Insurance HUF 14.7 mln

The National Bank of Hungary (MNB) issued a fine of HUF 14.66 million to Union Insurance the central bank and...

MNB

MNB: Inflation to Rise Temporarily in Coming Months

Inflation in Hungary will temporarily rise in the coming months but will remain within the tolerance band throughout most of...

Ratings

Scope Affirms Masterplast Issuer Rating at ‘CCC’ With ‘Stable’ Outlook

Scope Ratings has affirmed the issuer rating of construction company Masterplast Nyrt. at "CCC," maintaining a "Stable" outlook, according to...

MNB

MNB Implements Ethical Regulatory Package for Insurance Market

With the Ethical Insurance 2.0 Regulatory Package, MNB is targeting the market for life insurance firms and aiming to ensure...

MNB

Hungarian Central Bank Leaves Base Rate Unchanged at 6.5%

The Monetary Council of the National Bank of Hungary (MNB) decided to keep the central bank base rate steady at...

MNB

Varga: Achieving Price Stability Top Priority for Central Bank

The primary goal of MNB is achieving and maintaining price stability, it is committed towards its 3% inflation target, Finance...

Ratings

Fitch Revises Outlooks on Magyar Eximbank, MFB to Stable

Fitch Ratings affirmed the BBB long-term issuer default ratings of state-owned Magyar Eximbank and Hungarian Development Bank (MFB) and revised...

Ratings

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

What Happens Next to What We’ve Built? New Challenges in Family Wealth Planning

Building a successful family business takes decades of work, but its future also depends on how carefully the transfer of...

Hungarian Banks Seek Gradual Reduction in 45% Effective Tax Burden

Hungarian banks hope for a “slow but certain” reduction in their tax burden, Hungarian Banking Association President Radovan Jelasity said...

MNB Probe Widens as International Arrest Warrant Issued for Ádám Matolcsy

International arrest warrants have been issued for Ádám Matolcsy, son of former Hungarian central bank Governor György Matolcsy, and businessman...

MNB Holds Base Rate at 5.5%, Maintains Symmetric Interest Rate Corridor

The Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 5.5% at its monthly...

Gránit Bank Hit by Largest Loan Loss Provision in Its History

Gránit Bank reported an additional approximately HUF 9.4 billion loan loss provision in the third quarter of 2026, the largest...

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

MNB International Reserves Fall to EUR 62.1 bln in September

The National Bank of Hungary’s (MNB) international reserves stood at EUR 62.061 bln at the end of September, down EUR...

K&H Bank and Mastercard Extend Strategic Partnership Through 2030

K&H Bank and Mastercard have extended their exclusive strategic partnership through 2030, with plans to expand personalized digital financial services...

OTP Forecasts Hungary’s GDP Growth at 1.7% in 2026, 2.5% in 2027

Hungary’s economy could expand by 1.7% this year and 2.5% in 2027, with household consumption driving growth in 2026, according...

Hungary Posts EUR 481 mln Trade Deficit as Import Volumes Jump 13%

Hungary recorded a EUR 481 million goods trade deficit in August as import volumes rose 13% year-on-year while export volumes...

Bayer Construct Gets Default Ratings After Bankruptcy Protection Filing

Scope Ratings has assigned default ratings to Bayer Construct following its bankruptcy protection filing, citing financial pressure linked partly to...

Former Central Bank Governor Matolcsy Questioned as Suspect in Erste Case

Police have questioned seven suspects, including former National Bank of Hungary Governor György Matolcsy, in an investigation into alleged abuse...

MNB to Lower Inflation Target to 2.5% From 2028, Holds Base Rate at 5.5%

The National Bank of Hungary (MNB) will lower its inflation target to 2.5% from Jan. 1, 2028, while retaining its...

Net-zero Transition Becoming a Core Banking Issue

Banks have a central role to play in financing Hungary’s transition to a lower-carbon economy, not by withdrawing from carbon-intensive...